Joby Aviation (NYSE:JOBY) Shares Gap Up After Strong Earnings

Key Points

• Joby beat quarterly estimates: Revenue rose 143.8% year over year to $55.09 million, above the $38.95 million consensus, while its $0.22-per-share loss was narrower than expected. Shares initially gapped up after the announcement.
• Growth and execution milestones underpin the outlook: Joby projected $135 million to $140 million in 2026 revenue and said it had reached the FAA’s final stage of type certification, though certification is not yet complete.
• Significant risks remain: The company reported a $212 million quarterly net loss, and commercialization and certification will require further work. Analyst views were mixed, with some firms cutting price targets despite maintaining Buy ratings.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $5.05, but opened at $5.77. Joby Aviation shares last traded at $5.2150, with a volume of 11,032,527 shares.

The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.03. The company had revenue of $55.09 million during the quarter, compared to the consensus estimate of $38.95 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%. Joby Aviation's revenue was up 143.8% on a year-over-year basis. During the same period last year, the business posted ($0.48) earnings per share.

Joby Aviation News Summary

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby reported Q3 revenue of $55.1 million, up 143.8% year over year and well above estimates of about $39 million. Its loss of $0.22 per share was also narrower than expected. The company outlined a 2026 revenue plan of $135 million to $140 million, helping reinforce the growth outlook. Joby Stock Climbs After Q3 Beat and Higher Revenue Outlook
• Positive Sentiment: The company said it has reached the FAA’s final stage of type certification and completed multiple “for credit” tests. It is targeting type inspection authorization in the first half of 2027; manufacturing output reportedly rose 37%. Progress is encouraging, although certification is not yet complete. Joby advances final stages of FAA certification
• Positive Sentiment: The U.S. Air Force’s commitment to Joby’s autonomous-flight work increased to nearly $37 million, with the contract ceiling raised to $50 million. The company also announced first piloted air-taxi flights in Florida, adding operational and defense opportunities beyond its commercial air-taxi plans. Joby expands U.S. Air Force autonomous-flight contracts
• Neutral Sentiment: Analyst actions were mixed: Canaccord upgraded JOBY to Buy but lowered its target to $7 from $11.50; Needham kept a Buy rating while cutting its target to $10 from $15. Both retained positive ratings, but the lower targets temper the signal.
• Neutral Sentiment: A director sold 62,500 shares under a pre-arranged trading plan, a small reduction compared with his remaining ownership of about 55.6 million shares.
• Negative Sentiment: Despite beating estimates, Joby recorded a quarterly net loss of $212 million. The company remains loss-making, and certification, commercialization and the associated cash requirements remain significant hurdles. Joby’s results and its remaining hurdles

Analyst Ratings Changes

JOBY has been the subject of several research analyst reports. Needham & Company LLC decreased their target price on Joby Aviation from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday. HC Wainwright reissued a "buy" rating and issued a $18.00 price target on shares of Joby Aviation in a report on Monday, September 21st. Barclays began coverage on shares of Joby Aviation in a research report on Friday, October 9th. They set an "underweight" rating and a $4.00 price target for the company. Wall Street Zen downgraded shares of Joby Aviation from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, Canaccord Genuity Group raised shares of Joby Aviation from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $11.50 to $7.00 in a research report on Thursday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $11.33.

Insiders Place Their Bets

In other Joby Aviation news, insider Eric Allison sold 27,593 shares of the business's stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $5.09, for a total value of $140,448.37. Following the sale, the insider directly owned 745,120 shares in the company, valued at $3,792,660.80. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO JoeBen Bevirt sold 606,667 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $6.19, for a total value of $3,755,268.73. Following the transaction, the chief executive officer directly owned 57,207,377 shares in the company, valued at $354,113,663.63. This represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,017,628 shares of company stock valued at $6,340,090 in the last quarter. 20.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Ancora Advisors LLC bought a new stake in shares of Joby Aviation during the second quarter valued at about $27,000. Leonteq Securities AG lifted its holdings in shares of Joby Aviation by 295.2% in the first quarter. Leonteq Securities AG now owns 4,351 shares of the company's stock worth $36,000 after buying an additional 3,250 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Joby Aviation in the first quarter valued at approximately $37,000. Geneos Wealth Management Inc. boosted its position in shares of Joby Aviation by 95.5% in the first quarter. Geneos Wealth Management Inc. now owns 5,385 shares of the company's stock valued at $44,000 after acquiring an additional 2,630 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Joby Aviation by 42.5% in the third quarter. Parallel Advisors LLC now owns 8,597 shares of the company's stock valued at $52,000 after acquiring an additional 2,562 shares during the period. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Trading Up 0.7%

The firm's 50 day moving average is $5.79 and its 200 day moving average is $8.54. The company has a market cap of $5.03 billion, a PE ratio of -5.14 and a beta of 2.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98.

Joby Aviation Company Profile

Joby Aviation, Inc is an aerospace company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while operating with the range and speed of a conventional aircraft, supporting quiet, low-emission air taxi services and other urban and regional transportation applications.

Founded in 2009 by JoeBen Bevirt, Joby is pursuing the certification, production and commercial deployment of its piloted aircraft.

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